The Raise Your Average™ Podcast

Michael Green, Chief Strategist at Simplify Asset Management joins Pierre Daillie and Adam Butler for a blockbuster of a conversation about his macro view of the economy, inflation, markets and the dynamics of today's equity and fixed income markets, as well as his in depth view [1:20:21] that stock markets are less efficient and more 'inelastic' due to the proliferation of passive index investing, and what that means.Our conversation begins with Michael setting the stage for the entire conversation by describing how and why the 70s inflation occurred. [5:00] Instead, with the power of historical hindsight and investigation of all data from that period, Michael eloquently describes in non-jargony fashion what actually happened and provides a deeply profound view of how the economy works and how it worked then, and asks the thought -provoking rhetoric to shift our perspective on what we should be looking at if we want have a true look at what is happening.Then [19:35] Michael explains his view on peak productivity, i.e. that productivity peaks at age 45 specifically in the context of today's demographics, and how that dynamic is contributing to his view on whether or not we are entering an inflationary spiral.[21:30] Adam asks Michael to describe what he thinks are the underlying mechanics and the subtext of what is driving the inflation impulse, i.e. bottlenecks and underinvestment, as well as inflation the 'Meme' or 'Political Football' or 'Inflation, the Performance Art.'Research mentioned in the conversation:• In Search of the Origins of Financial Fluctuations: The Inelastic Markets Hypothesis (Gabaix and Koijen)• The Inelastic Market Hypothesis: A Microstructural Interpretation (JP Bouchaud)• How Competitive is the Stock Market? (Valentin Haddad)Where to find Michael Green:Michael Green on LinkedinMichael Green on Twitter - @profplum99Simplify Asset ManagementCopyright © AdvisorAnalyst.com

Paul Kornfeld, CFA, President of SIACharts joins Pierre, Mike and Rodrigo for a deep dive into the capabilities of his firms powerful proprietary Investment Advisor platform, SIACharts encompasses a suite of tools advisors can use to efficiently make comparative decisions across all individual North American Stocks, ETFs and Canadian Mutual Funds.We get into the nuts and bolts of what makes the SIACharts platform tick. For starters, SIACharts carries out 10-billion calculations each trading day to provide cross securities analysis across roughly 10,000 securities. The tool enables advisors to make rapid calls between securities based on SIACharts proprietary Relative Strength Analysis (not to be confused with Technical Analysis' Relative Strength Indicator)Advisors can easily make pair-trading distinctions between stocks, Canadian and US ETFs and all Canadian Mutual Funds on a adhoc basis, compare entire stock, ETF and mutual categories and sector and factor strategies, or across each ETF or Fund provider, as well as receive up-to-the-day scores and relative strength calls such as the SIACharts Equity Action Call, which provides day-to-day guidance on whether there is cause to increase or decrease equity exposure based on relative strength analysis. Advisors can also plot charts in either of Line, Candlestick, or Point and Figure formats.Point and Figure charting figures large on the SIACharts platform because of its ability to provide trend analysis in an asymmetric format that ignores time as a factor, and focuses on price movement and trend. Point and Figure charting is a proven charting tool effective at identifying trends across securities either on a one-off individual security chart, or when comparing competing pair trades (e.g. stock vs. stock, stock vs. index, stock vs. Sector, ETF vs. Sector, or Fund, etc.) to identify the relative outperformance of one security versus others, and/or other measures.Throughout the conversation, Paul demonstrates how advisors can use this unique and powerful investment management tool to make significant improvements to their investment selection and management process, as well as streamline their trading and communications processes with their clients.One of the most underrated factors in considering the use of SIACharts is how it not only provides valuable insight in the determination of timing and relative strength across securities and markets, tracks model and individual client portfolios, but how it is transforming the practices of advisors who have adopted the platform. It is a massive timesaver in the context of securities selection and analysis.As a meeting preparation tool for instance when getting ready to meet, or intra- or post-meeting with prospective clients, for example, advisors have been able to add enormous value to their initial interactions by being able to provide portfolio x-rays against pre-existing portfolios to point out the strengths and weaknesses in portfolios on very short notice. Clients trend toward highly impressed by the advisor's ability to make quick systematized calls on portfolios on short-notice and on an ongoing basis, in and around the portfolio review process, and also thus, freeing up substantial time for advisors to be able to spend more time on high value relationship building.Paul points out that among his favourite tools in the SIACharts war chest is the ability to set up alerts on individual securities and model portfolios to notify of changes in relative strength across all dimensions. When you can empower your practice to be in a position to deliver on investment commitments such as market entry and exit calls, on an immediate basis, from wherever you may be at any given moment, for example, it greatly enhances the value and competitive dynamic of your advisory practice.Finally, from a behavioural finance perspective, Paul demonstrates via SIACharts' case studies how SIACharts tools provided asset preservation guidance during tumultuous periods, such as last years' panic selloff signals, or by how advisors on the platform were signalled appropriately to both enter Valeant during its massive upward growth spike and, conversely to exit same during its fall from grace. Think Nortel Networks and Bre-X débâcles.Thank you for tuning in, and if you found the conversation to be valuable in any way, please hit that subscribe button in Youtube, Apple Podcasts, or Google Podcasts, the Notifications button, as well as 'liking' and commenting as you see fit.Get a All-Access Free Three Week Trial to SIACharts Here (Advisors only)Where to find Paul Kornfeld and SIACharts:Paul Kornfeld on LinkedinSIAChartsWhere to find the Raise Your Average crew:ReSolve Asset ManagementReSolve Asset Management BlogMike Philbrick on LinkedinRodrigo Gordillo on LinkedinAdam Butler on LinkedinPierre Daillie on LinkedinJoseph Lamanna on Linkedin

Atul Tiwari, CEO, Cult Wines Canada (https://www.linkedin.com/in/atul-tiwari-0a967818/) joins us for a delightful and captivating conversation on the inner workings of the world of investable and collectable fine wine (for starters, think first-growth left-bank Bordeaux's), and of Cult Wines Canada's (his latest foundling) work to bring the world of investable fine wine to the Canadian market. Atul Tiwari is the former founding President of BMO ETFs and former CEO of Vanguard Canada, which grew to $30-billion in assets, before his departure at the end of 2018.Since his departure from from the top role at Vanguard Canada, Tiwari went on, in March 2021, to co-found Cult Wines Canada, the joint venture with Cult Wines UK, along with its Global CEO, Tom Gearing, to bring the exciting opportunity of investing in investment grade fine wines, which represent roughly only 1% of the world's annual production, to Canadian investors.Cult Wines UK is the rapidly-growing and well known UK-based investable wine boutique investment firm with investments in rare, investable wine assets.We roll up our sleeves, and get into how this unique, and once walled-off, once very private dealing network for wines from the highly-vaunted wine growers has been brought to accessibility, by Cult Wines, for all investors seeking a way to take part in this lucrative market.If you've ever wondered exactly how the investment grade wine market works (or if it's all new to you), come hang out with us for a little while and have your blanks filled.Where to find Atul Tiwari and Cult Wines Canada:Cult Wines CanadaAtul Tiwari on LinkedinDownload Cult Wine's Investment GuideWhat is Left Bank Bordeaux?Copyright © AdvisorAnalyst.com

View on YoutubeListen on Apple PodcastsListen on Google PodcastsOur conversation with Arthur Salzer, CEO, CIO, of Northland Wealth Management, one of Canada's leading wealth management family offices. Arthur Salzer shares his personal history, his early career experiences, and the process and steps he and his firm took under his stewardship which have culminated in Northland Wealth Management's success as a private, independent wealth manager.For those of you in the private wealth management business, our conversation is a valuable walk-through on best practices, the fiduciary mindset, due diligence, and his independent research on real estate, real assets, private equity, equities, technology, and cryptocurrencies, bitcoin and ether.Salzer shares some interesting nuggets on private equity, and reminds us of the simple truth that if you always put your clients above your firm's interests, and your own, you can't go wrong.We hope you enjoy our conversation.Full Transcript: Coming soonContact:Arthur Salzer on LinkedinNorthland Wealth Management*****Find the Raise Your Average crew:ReSolve Asset Management - https://investresolve.com/ReSolve Asset Management Blog - https://investresolve.com/blog/Mike Philbrick - https://www.linkedin.com/in/michaelphilbrick/Rodrigo Gordillo - https://www.linkedin.com/in/rodrigogordillo/Adam Butler - https://www.linkedin.com/in/adamdbutler/Pierre Daillie - https://www.linkedin.com/in/pierre-daillie-advisoranalyst/AdvisorAnalyst.com - https://advisoranalyst.com

We're excited to bring you a new show, Raise Your Average, where we'll bring today's investment luminaries and leading advisors together to debate and discuss today's most relevant market topics in roundtable panels.In the first episode of this new show, Meb Faber, founder of L.A.-based Cambria Investment Management, and Marc Dalpé, Portfolio Manager at Richardson Wealth chat with Raise Your Average co-hosts Pierre Daillie, Managing Editor, AdvisorAnalyst.com, and Mike Philbrick, President, of ReSolve Asset Management SEZC, for a deep-dive exploration around the subject of how to solve The 60/40 Portfolio Puzzle.For decades, a balanced portfolio of stocks and bonds has been the highly regarded staple of investing. It’s a concept that has been under fire well before COVID happened, but as 2020 unfolded, the 60/40 Portfolio has continued to confound its critics.With yields on 10-year Canada bonds and US Treasuries having descending to record low levels (5,000 year lows) and stocks climbing to all time historical highs, its anybody’s guess as to what happens the next ten years.Can we look at government bonds for income anymore? Can we still count on bonds to continue to provide the ballast to portfolios anymore. The prognosis is challenging.What about stocks? What are the forward looking returns for stocks? And moreover, what stocks?Meb Faber is the CIO and founder of Cambria Investment Management, based in California. They run a number of well known ETFs as well as separate accounts for individual investors. Meb also has a popular blog, is a prolific author of 6 published books, and hosts his own terrific podcast, The Meb Faber Show, where he’s interviewed hundreds of other investors. He’s a brilliant quant who’s launched some really interesting products. We’ve asked him to come on and talk about what is HIS answer to this dilemma we all face.Marc Dalpé is a successful portfolio manager and advisor at Richardson Wealth where he runs the DalpéMillette Group advisory practice. Marc has been an advisor since 1990, and he and his partners founded their advisory partnership in 1998. Marc has always been way ahead of the curve as an advisor, and more significantly as a fee-based discretionary portfolio manager, with both the use of ETFs and actively managed funds.Meb Faber, Cambria Asset Management - https://www.cambriainvestments.com/The Meb Faber Show - https://mebfaber.com/podcast/Meb Faber Research - https://mebfaber.com/All Time Highs A Good Time to Invest? No. A Great Time. (White Paper by Meb Faber) - https://www.cambriainvestments.com/wp-content/uploads/2020/05/20200530.AllTimeHighs.UPDATE3.pdfhttps://www.cambriainvestments.com/wp-content/uploads/2020/05/20200530.AllTimeHighs.UPDATE3.pdfMarc Dalpé, Richardson Wealth - https://web.richardsonwealth.com/dalpe.milette/Michael Philbrick, ReSolve Asset Management SEZC - https://www.investresolve.comReSolve Asset Management Podcast - https://investresolve.com/podcasts/ReSolve Asset Management Blog - https://investresolve.com/blog/Copyright © AdvisorAnalyst.com